Industrialist Sanjeev Goenka wins IPL’s new Lucknow franchise with a bid of over Rs 7,000 crore

The Indian Premier League’s bid verification process is underway in Dubai on 25 October 2021. PTI photo

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Dubai: Kolkata-based business tycoon Sanjeev Goenka’s RP-SG Group claimed Rs 7090 crore on the Lucknow franchise, while international equity investment firm CVC Capital won the bid for Ahmedabad with an offer of Rs 5,600 crore as two new IPL teams were unveiled had gone. Here on Monday.

The BCCI was expecting a windfall of Rs 10,000 crore, but was surprised to see it earn Rs 12,690 crore from the two new teams participating in the 2022 IPL.

PTI had reported on Sunday that Goenka was one of the favorites to win the team after being in the IPL for two years in 2016 and 2017 when he was owned by Rising Pune Supergiants.

“Yes, RPSG had made the highest bid of Rs 7090 crore while CVC had the second highest bid of Rs 5600 crore. BCCI will earn around $1.70 billion from this deal.

One of the major losers was Gautam Adani’s Adani Group, which had bid for around Rs 5000 crore, while the bids of Manchester United and Torrent Group’s Glazers were also below the mark.

Twenty-two companies have taken tender documents worth Rs 10 lakh, but the base price for the new teams has been pegged at Rs 2000 crore, with only five to six serious bidders in the fray.


Read also: BCCI could earn up to $5 billion from IPL broadcast rights for the next 5-year cycle


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